The Ontario Securities Commission (OSC) granted Canntab Therapeutics Limited a partial revocation of a cease trade order (FFCTO) issued due to the company’s failure to file required financial statements. Canntab sought this partial revocation to conduct a private placement to raise $100,000 from accredited investors. The funds will be used to bring the company into compliance with its continuous disclosure obligations, pay outstanding fees, and for working capital. The decision was based on Canntab’s representations and is subject to conditions, including informing investors about the FFCTO and obtaining their acknowledgment that the securities will remain subject to the FFCTO. The relevant laws include sections 127 and 144 of the Securities Act (Ontario) and National Policy 11-207.
